Mobile Embrace Posts 105% Revenue Increase For First Quarter This Financial Year

Mobile Embrace Posts 105% Revenue Increase For First Quarter This Financial Year

Mobil commerce company Mobile Embrace Limited has reported a strong start to FY2016 with record revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter ended 30 September 2015.

Eve Hanks
Posted by Eve Hanks

Revenue for the period was up 105 per cent on the previous corresponding period to $12.1 million (Q1 2015: $5.9 million) and EBITDA was up from $0.13 million to $2 million. The revenue and EBITDA performance represents the strongest trading quarter in MBE’s history.

Management is very encouraged by the first quarter financial performance which has been driven by solid organic growth from ongoing operations and the businesses that Mobile Embrace has acquired. This has underpinned the continued expansion of the group’s domestic and international operations.

While MBE’s domestic operations are performing well, the company is particularly encouraged by the growth in international operations, primarily the m-payments division in the United Kingdom. Revenue from international m-payments has been growing at an average 20 per cent month-on-month since January 2015. International revenues are now 14 per cent of Mobile Embrace’s m-payments business with this figure continuing to grow.

Mobile Embrace CEO, Chris Thorpe, commented: “We are encouraged by the consistent and strong growth being achieved across domestic and international markets which is translating into increased revenue and earnings.

“MBE is now just starting to realise the financial benefits from the businesses it has acquired which are all experiencing very solid organic growth under the company’s ownership.

“In the near term, we are also expecting strong growth from our performance marketing operations which can now service clients in Australia, New Zealand, and the much larger markets of the United Kingdom and Europe. Our performance marketing operations now have sufficient operational scale to compete globally.

“Our m-marketing and m-payments capabilities present clients with a unique market offering and we are continuing to build scale into these operations so we establish MBE as a leading m-commerce provider in multiple markets.

“MBE is in excellent shape with a strong balance sheet, growing revenue streams and robust operating businesses. We are well placed for the first half of FY2106 and beyond, and we look forward to updating shareholders in the near term on a number of operational developments across the business.”